EURUSD | Technical Outlook
Market Structure
EURUSD is trading within a clear bearish structure after failing to sustain its previous recovery. Selling pressure has increased across lower timeframes, with price forming lower highs and lower lows, confirming downside momentum.
The recent breakdown from the $1.1730 – $1.1750 area accelerated the decline, pushing the pair toward $1.1680, where price is currently attempting to stabilize.
Key Resistance Zone
The nearest resistance is now located at $1.1715 – $1.1730, a zone defined by the recent breakdown and dynamic moving-average resistance. Any corrective rebound toward this area is likely to face renewed selling interest.
Additional resistance levels:
• $1.1750 (key short-term structure)
• $1.1780 – $1.1800 (major bearish rejection zone)
As long as EURUSD trades below $1.1730, bearish momentum remains dominant.
Key Support Zone
Immediate support lies at $1.1680 – $1.1665, where the current decline is pausing.
A confirmed break below $1.1665 would expose deeper downside targets:
- $1.1630
- $1.1600 – $1.1585 (major structural support)
Failure to hold above $1.1600 would signal a broader bearish continuation on higher timeframes.
Expectations
Bearish Scenario (Primary)
The prevailing structure favors further downside while price remains below $1.1730.
A breakdown below $1.1665 could accelerate selling toward $1.1630, with scope to extend toward $1.1600.
Bullish Scenario (Alternative)
A sustained recovery above $1.1730 would be the first sign of short-term stabilization, opening the door toward:
- $1.1750
- $1.1780 – $1.1800 (critical zone that must be reclaimed to weaken bearish momentum)
Until then, upside moves are expected to remain corrective.
Outlook
EURUSD remains under bearish pressure, with sellers firmly in control below key resistance levels. The overall structure stays negative unless price can reclaim $1.1730, while a break below $1.1665 could trigger a continuation toward deeper support zones.
